To come up with this list, we have tested forex brokers Brazil.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Afterward, to get an actual picture, we placed real trades in each popular market. 

We also contacted customer support to see how the team solved our issues. Finally, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Brazil based on our trading data and experience as a trader.

Is Forex Trading possible in Brazil?

Brazil is the largest country in South America and Latin America. Due to its size, it is the fifth largest country in the world. Also, the dense population makes it the sixth most populous country in the world. The country’s economy is mixed. It is rich in natural resources. It is the leading producer of amethyst, agate, and topaz. Brazil also stands out for its mining sector, being one of the leading extractors of iron ore, tin, nickel, etc.

The banking sector in the country is sophisticated, with the two leading banking brands present in the country – Itau Unibanco and Banco Bradesco.

As to the question, of whether forex trading is available in Brazil, the answer is positive. However, the market is quite specific with strict laws and tight regulations.

Not in the distant past, it was almost impossible to conduct trades in the equity market. The country has now switched to a more lax regime, making it easier to indulge in forex trading.

Forex Trading in Brazil is regulated by the Securities and Exchange Commission of Brazil (CVM). The body is responsible for ensuring the expansion and functioning of the stock market, controlling the regular operation of the stock and OTC markets, protecting security holders and investors, etc.

The official website of the Securities and Exchange Commission of Brazil (CVM) is www.gov.br.

You may also visit the CVM Twitter here.

🏦RegulatorThe Securities and Exchange Commission of Brazil
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNo
📊 Maximum Leverage1:30

Best Forex Brokers Brazil

Finding forex brokers Brazil can be difficult, as the market is regulated quite strictly and there are a few brokers holding local licenses. Also, international forex brokers may not accept traders from the country, especially to conduct their trades in their country’s official currency – the Brasileiro real.

Still, there are brokers based in the country, falling under the local regulations, and international brokers that accept Brazilian traders. We recommend being very careful and signing only with reliable brokers, as money safety in trading goes first.

When choosing a forex broker Brazil, we advise the traders to pay special attention to its payment methods. Check, whether the methods offered by a certain broker are available in Brazil. Also, another aspect to consider is customer support. Make sure that the broker provides customer support in the preferred language.

To select the best forex brokers Brazil, we have reviewed many regulated forex brokers. Based on our research, we have come up with a list of the best forex brokers for Brazil traders:

  • FP Markets – Best Trusted Forex Broker in Brazil Overall
  • Tickmill – Best Top 10 Forex Brokers for Beginners in Brazil
  • ActivTrades – Best Forex Scalping Broker for Brazil
  • RoboMarkets – Best Lowest Spread Forex Broker for Brazil
  • IC Markets – Best Forex Broker with the Highest Leverage Brazil

Best Trusted Forex Broker in Brazil Overall

We picked FP Markets as the best online forex broker Brazil overall.

Founded in 2005 FP Markets is an Australia-based broker, with licenses in the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines. FP Markets offers multiple trading instruments, such as forex, stocks, indices, commodities, and cryptocurrencies.

FP Markets allows withdrawals through credit/debit cards, bank transfers, PayPal, Skrill, and several other methods. The broker offers MT4, MT5 platforms, also, the IRESS platform. The broker’s accounts are based on its platforms. There are two main account types: Standard account, and Raw account.

Its spreads are rather low. For forex and indices especially the spreads are on the lower side. The broker also offers quality education: webinars, ebooks, video tutorials, trading glossary, etc.

Best Top 10 Forex Brokers for Beginners in Brazil

We picked Tickmill as the best forex broker Brazil for beginners.

Tickmill was founded in 2014. This is a global Forex and CFDs broker, headquartered in London. Tickmill holds multiple licenses in the UK, Cyprus, South Africa, Seychelles, and Labuan (Malaysia). The broker allows trading in the following markets: Forex, Commodity, Indices, and Bonds. This is a Non-Dealing Desk forex broker with favorable offerings.

The deposit methods offered by Tickmill are instant and free, except for bank transfers. Clients can deposit funds into their trading accounts using debit/credit cards, bank transfers, and e-wallets such as Skrill, and Neteller.

There are 3 main account types: the Pro, Classic, and VIP accounts. The broker offers only the popular MT4 platform to its clients.

We have picked Tickmill as the best forex broker Brazil for beginners. Its education section includes webinars, seminars, ebooks, video tutorials, forex glossary, fundamental analysis, technical analysis, market insights, and infographics.

Best Forex Scalping Broker for Brazil

We picked ActivTrades as the best forex broker Brazil for scalping.

ActivTrades is a global Forex and CFDs broker. It was founded in 2001 with its headquarters in London, United Kingdom. The broker holds licenses in the United Kingdom, Luxembourg, and the Bahamas. ActivTrades, being one of the best stock forex brokers, offers numerous tradable instruments in the following markets: forex, indices, stocks, and commodities segments.

ActivTrades offers 2 account types: the Individual Account and the Islamic Account. The broker also offers swap-free Islamic Accounts to Muslim clients. The broker’s payment methods include bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller.

We have picked ActivTrades as the best forex broker Brazil for scalping. With the broker, traders can execute most trading strategies as it allows high-risk strategies such as hedging and scalping. All in all, the trading conditions at ActivTrades are great.

Best Lowest Spread Forex Broker for Brazil

We picked RoboMarkets as the best low spread forex broker Brazil.

RoboMarkets or RoboForex is a Forex and Contracts for Differences (CFDs) broker, headquartered in Cyprus. The broker is regulated in Cyprus, Belarus, and Belize. RoboMarkets offerings include forex, stocks, indices, and commodities.

RoboMarkets offers five types of accounts: Pro Account, ProCent Account, Prime Account, ECN Account, and R Trader Account.

The broker’s deposits are easy and fast through bank transfers, credit and debit cards, and several top online wallets like PayPal, Skrill, and Neteller.

We have picked RoboMarkets as the best low spread forex broker Brazil. We were unable to find zero spread forex broker in Brazil, however, we came up with a trustworthy broker RoboMarkets, with considerably low spreads. Spreads on indices and gold are on the lower side. For other instruments, the broker’s spreads are on the average benchmark.

Best Forex Broker with the Highest Leverage Brazil

We picked IC Markets as the best high leverage forex broker Brazil.

Founded in 2007, IC Markets is based in Sydney, Australia. It is a Forex and CFD broker, with multiple licenses in Australia, Cyprus, Seychelles, and the Bahamas. With the broker, traders have access to the following trading instruments: forex pairs, indices, stocks, commodities, and cryptocurrencies.

IC Markets offers 4 main account types: the standard account, cTrader raw spread account, the raw spread account, also, the Islamic account. With the broker, the clients can conduct their trades on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. There are various payment methods available, including bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller.

We have chosen IC Markets as the best high leverage forex broker Brazil. The leverage levels offered by the broker are based on the entity. Traders are allowed to change their account’s leverage levels after registration. The highest leverage allowed by the broker is 500:1.

Brazil Forex Brokers List

We have tested many regulated and trustworthy forex brokers Brazil. Based on our research, we have come up with a list of available forex brokers Brazil.

Brazil Forex BrokerAbout Our TestOur Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Trading 212 Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FxProDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
DukascopyDeposit Amount: Over €4,000
Total Trade: 15 trades
Dukascopy Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
RoboMarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets Review

FAQ and More on Forex Trading Brazil

Traders usually have many concerns related to forex trading in Brazil. To be helpful we picked and answered some of the most essential questions related to forex brokers Brazil.

How to Verify Brazil Regulated Forex Brokers?

Traders wonder how to verify a forex broker Brazil. A forex broker verification, in general, is quite easy. It is possible to do on the regulator’s website. In Brazil, the regulator of the forex market is The Securities and Exchange Commission of Brazil. However, due to regulations, there are only several brokers that hold a local license in the country.

In case you want to check if a certain broker accepts Brazilian clients, you can easily do that on the broker’s website. Generally, almost all brokers mention on their websites the available and restricted regions.

The Securities and Exchange Commission of Brazil

Brazil Forex Brokers that Accept Paypal

PayPal is a payment method accepted in many countries, including Canada, the UK, and the USA. Many Brazilian traders are interested in whether there are reliable brokers in their country that support PayPal payment system for deposits and withdrawals.

Based on our research, we have come up with the following forex brokers Brazil that offer a PayPal payment system:

  • XTB
  • IC Markets
  • ActivTrades

Best Forex Brokers for Spread Betting

Spread betting allows traders to speculate on the price movement of any financial instrument, whether it is forex, stocks, indices, or commodities. Spread betting is a derivative product, thus traders do not own the underlying asset of it. Read more about Spread Betting here.

However, as research shows, at present spread betting is legal only in the UK. Thus, it might not be available for Brazilian traders.

Best Day Trading Broker

Traders usually day trade on the foreign exchange and equities markets, where there is enough liquidity to close the trades quickly. Many traders from Brazil are interested if there are trustworthy day trading platforms available in their country.

We were able to come up with the following brokers that offer day trading in Brazil:

  • RoboMarkets
  • XTB
  • Tickmill

Brazil Welcome Bonus Forex Broker

Traders often look for brokers that offer bonuses. We tried to find forex brokers Brazil with no-deposit bonus or welcome bonus. We found that most of the reliable brokers do not have such offerings.

The only broker with a welcome bonus available in Brazil is Tickmill. However, the bonus is provided by Tickmill Ltd only and may not apply to clients from certain countries. We advise traders to find out whether the bonus is available for them before signing with the broker.

Tax for Forex Trading in Brazil

Forex trading in Brazil is subject to taxation. Generally, there is a maximum of 25% taxation for foreign exchange transactions. Income taxes in the country are progressive, starting from 7.5% up to 27.5%. Capital gains are taxed the same way as general income. The income tax rate varies, starting from 15% to 25%. Anyway, the minimum or maximum tax rates may change annually, thus traders might need to do their own research.

Brazilian traders should remember that they hold the responsibility for filing tax forms to the country’s relevant institution. Delays or avoidance may lead to huge fines and penalties.

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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